Why share price drop? I thought if it is true that the famous ex top senior civil servant goh chye boon is pitted to be the new ceo, it should be more positive for RWS. What say U?
The Company refers to the article appearing on page B8 of today’s edition of The Straits Times (“Former top civil servant tipped to head RWS”).
The Company would like to clarify that Mr. Tan Hee Teck is neither slated to move to another post in the Genting Group, nor has Resorts World Sentosa (“RWS”) appointed any CEO-designate successor. Mr. Goh Chye Boon joined RWS as Executive Vice President of Resort Operations in January 2013 and currently oversees the operational non-gaming functions of RWS. Previously heading up the China Business Partnership unit of Government Investment Corporation Singapore, he also held various positions in the private and public sector, and was the CEO of the Sino-Singapore Tianjin Eco-City, a flagship project between the People’s Republic of China and the Singapore Government.
For and on behalf of the Board Terence Tay Assistant Secretary
Don't ever follow newbie's ( sengsk) foot step!!! Being a new NUS graduate he should know better than go gambling in any casino. His story looks very tempting for those who wants to make easy money. He paid $2000 as casino levy & is willing to lose $48,000 which he'll very soon. Stating that he won $500 if trip, for 6 trips in 2wks he won $3,000. By letting to you first is the casino's bait so that you'll play big so that you will lose your money faster than you win it. The casino doesn't survive if people don't gamble & from historical data 92% lose, 5% break even and only 2% win for a while & finally return all the wins back to the casino as he play on. Philosophy of LIFE: Don't be too Greedy & avoid 3 things - 1) betting in Horse Rasing 2) betting in Casino 3) anything that is too good to be true aviod it e.g. quick money making scheme.
The weaker performance was mainly due to the continual compression of interest margin, an impairment loss on investments and a net allowance for loan losses made as compared to a net write-back in the previous year. SGX Stock Picks | Singapore Stock Recommendations | Best Shares to Buy @ (http://goo.gl/JtKiBu)
I am Malaysian and buy at SGD2.01. Due to currency depreciation, the cost now is SGD1.89. Never worry for this counter....try to imagine after 20 yrs..I am going to have capital gains and currency gains....
Yeah, all investors experience this. Buy high and then no more bullets. Welcome to the club. MYR is expected to depreciate further vs SGD and Genting will appreciate again.
Genting Singapore's Marina Bay Sands posts "uneventful" 3Q13 results
Practically the same as last quarter.
MBS released its 3Q13 operating numbers which threw up no surprises, said CIMB.
GGR came in at US$807m, up 30% yoy because of a normalisation of VIP hold rates to 2.85% (1.79% in 3Q12), and qoq, the numbers largely reflected the same business levels as in 2Q13.
VIP rolling chip was down 4% qoq to US$13,785m. Non-rolling chip on the mass floor was down 1% to US$1,156m. Receivables remained above the US$1.1bn mark.
CIMB noted the Genting's forward strategy is to focus on the foreign premium mass segment with some margin pressure expected as the casino pays for the rooms.
Management also told CIMB about the IR opportunity in Japan and expects this to be “the single most expensive” investment, especially with construction costs expected to go up in the lead-up to the 2020 Olympics.
"We expect Genting Singapore to report similar uninspiring 3Q13 numbers on 7 Nov. Genting Singapore has rallied recently on the back of its chances in Japan which admittedly are more than good. It has been ahead of the curve in engaging with potential partners and the potential landscape," said CIMB.
"We also believe the Japanese will lean towards the Singapore IR model, which is capex-heavy and regulation-heavy. We are positive on Genting Singapore and Japan but would not be over-enthusiastic on the option value. If the Japanese want the same Singapore model, then ROCEs could potentially be low," it added.
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DinDin
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Posted by DinDin > 2013-02-01 16:05 | Report Abuse
next week will rise!!!!